Money Order's

Scenario&-& I maintain and an active bank checking &account, and I give the bank cash for a money order.....then IRS comes in and seizes the&checking account for a questionable debt.& Question......is the money order still a good insrument?

[Jerseee]

Mike,

You can check with the bank to see if they placed a cancelation or hold or something on those money orders.

I know the post office sends a bulleting out bi-monthly and lists all the money orders that are no good. they use the numbers that are on them to account for them and track them. you should have the same thing on your money orders....an accountable number.

Thanks Jerseee,,,,


After I give cash over to the bank in exchange for a money order there is no way the IRS can identify me as the purchaser...so I don't see how they can stop payment.& The ID numbers on the MO don't identify anyone until AFTER I address it...so the bank doesn't know who's got the&MO. Same with the PO.&


So, paying debts with MO's should be fine.


Of course, I'm just guessin.......&

[Jerseee]

Mike,


From my experience with money orders, it does not matter to whom it is made to.& they only care about the accountablility of the document.


It is the same as a stop payment on a check.& They want the check number not the holder which is optional.


Just my thoughts on this not fact.